NetSol Will be a Majority Owner in New Joint Venture, Which
    Will Market the Company's Enterprise Software Products and
          Services in Fast-Growing Latin American Region

CALABASAS, Calif., May 19, 2011 (GLOBE NEWSWIRE) -- NetSol
Technologies, Inc. ("NetSol" or the "Company") (Nasdaq:NTWK) (Nasdaq
Dubai:NTWK), a U.S. corporation providing global business services and
enterprise application solutions to private and public sector
organizations worldwide, today announced that it has signed a
Memorandum of Understanding ("MOU") with the Brasilinvest Group, a
large, pioneering private business development company based in Brazil,
to form a software and IT services joint venture focused on serving the
Latin American IT market.

The new joint venture will leverage NetSol's platform of software
products and services and the Brasilinvest Group's regional presence to
capitalize on the growing demand for enterprise software solutions in
Latin America. Under the terms of the MOU, the joint venture will be
majority owned by NetSol and 40% owned by the Brasilinvest Group.
Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group,
Inc. (Nasdaq:RODM), NetSol's financial advisor, facilitated the
transaction.

According to Gartner, a leading information technology research and
advisory company, the Latin American enterprise software market
experienced year-over-year growth in the mid to high teens during 2010,
nearly double the global market average. Along with Russia, India and
China, Brazil is one of the "BRIC countries," four of the world's most
rapidly developing emerging markets as identified by Goldman Sachs.
Brazil is the largest economy in Latin America and one of the
fastest-growing economies in the world, achieving 7.5% year-over-year
GDP growth in 2010. Business Monitor International forecasts that
Brazil's total software market will be worth $4.4 billion in 2011 and
will grow at a compound annual growth rate of approximately 16% through
2015. The market's growth is currently driven in part by increased
demand for enterprise software among small and medium-size businesses
in Brazil's finance, retail and healthcare sectors.

"We are very pleased to have this opportunity to work with Brasilinvest
as we move forward on our goal to expand into Latin America," commented
Najeeb Ghauri, Chairman and CEO of NetSol. "Our target market,
comprised of both multinational and local leasing and finance
companies, has an established and growing presence in Brazil.
Partnering with Mario Garnero, a leading businessman, and his
organization, an entrenched player in the region, will set the stage
for NetSol to make a strong entrance into this dynamic market."

The Brasilinvest Group manages a diversified portfolio of projects and
investments worth over $3 billion, making it one of the top 150 private
groups in Brazil by net assets. Over its 36-year history, the
Brasilinvest Group has completed a large number of projects, including
the privatization of Telia, Sweden's leading mobile network operator
($1 billion), and the financial structuring of Sulbrasileiro Credito
Imobiliário ($980 million). Current projects include the
Três Pontes do Atibaia Real Estate project in Sao Paulo, valued
at $650 million, and a $1.7 billion joint venture between an important
royal Saudi group and a South American oil and gas giant. The
Brasilinvest Group's Board of Advisors is comprised of business leaders
from a variety of sectors and geographic regions. In addition, the
Brasilinvest Group will induct Miguel Jorge, Brazil's former Minister
of Industry, Development and Foreign Trade, to its advisory board this
week. Shareholders include HSBC, Mercedes Benz, Seiko, Nestle AG and
Xerox Corp.

Mario Garnero, who founded the Brasilinvest Group in 1975, is one of
Brazil's most prominent entrepreneurs. He has previously served as
Director of Volkswagen do Brasil, President of the National
Confederation of Industry, and as a member of Brazil's National Energy
Commission. As the Chairman of NEC do Brasil in the early 1990s, Mr.
Garnero was instrumental in bringing mobile phone technology to Brazil.
He currently serves as President of the Interamerican Institute for
Juridical Studies in Mercosur, President of the Forum of the Americas,
and President of the United Nations Association-Brazil.

Mario Garnero, Founder and Chairman of the Brasilinvest Group, stated,
"We are extremely excited to partner with NetSol, which is a proven
global leader in its industry, and we look forward to our role in
making NetSol's value proposition a success in the burgeoning IT market
within the fast-growing Latin American region. Our broad experience in
the automotive, finance and IT sectors positions us well to bring great
value to this joint venture relationship."

About Brasilinvest Group

The Brasilinvest Group was founded in 1975 by Brazilian business leader
Mario Garnero. It is Brazil's first private development agency. From
its inception, Brasilinvest has played the role of a classic "banque
d'affaires", a modern-day merchant bank. Along with 80 partners in 16
different countries, the Group has already coordinated, in Brazil and
abroad, projects that exceed US$ 4 billion.

Through its 36 years, Brasilinvest has led a vast number of economic
development and business consulting projects. These projects have
included the transfer and nationalization of ITT-Standard Electric and
NEC in the 1980s, and the organization of the new shareholder structure
of Cofap and Bombril in the 1990s. The Group has also played a role in
the restructuring of FIAT's shareholder list, as well as in the
creation of a leasing unit for Volkswagen do Brasil and a rent-a-car
unit for VARIG and Volkswagen. In the field of agribusiness,
Brasilinvest has aided the industrial set up of Boehringer in Suape,
State of Pernambuco. The Group has also taken an active part in
initiatives such as Celupa (Companhia Industrial de Celulose e Papel
Guaíba) and Melitta. Brasilinvest is also known for its success
story in developing real estate projects -- it has already constructed
more than 3,700,000 square meters of buildings and other real estate
facilities.

Brasilinvest has always strengthened its international profile by
counting on members from the four corners of the globe in its Board of
Advisors. The Group has taken the lead in debating the effects of
globalization and its impact on the Brazilian market by organizing,
along with Fórum das Americas, important conferences focused on
investments in Brazil, which took place in Salzburg, Monaco and New
York.

Nowadays, Brasilinvest takes a leading role in structuring, developing,
implementing and commercializing projects and business in the sectors
of real estate, high technology, environment, agribusiness, energy,
health, infrastructure and telecommunication, working in fundraising
and investment orientation along with international investors. For more
information about Brasilinvest, please visit
http://www.brasilinvest.com.br/english/brasilinvest.asp.

About NetSol Technologies, Inc.

NetSol Technologies, Inc. (Nasdaq:NTWK) (Nasdaq Dubai:NTWK) is a
worldwide provider of global IT and enterprise application solutions.
Since its inception in 1995, NetSol has used its BestShoring(TM)
practices and highly experienced resources in analysis, development,
quality assurance, and implementation to deliver high-quality,
cost-effective solutions. Specialized by industry, these product and
services offerings include credit and finance portfolio management
systems, SAP consulting and services, custom development, systems
integration, and technical services for the global Financial, Leasing,
Insurance, Energy, and Technology markets. NetSol's commitment to
quality is demonstrated by its achievement of the ISO 9001, ISO 20000,
ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability
Maturity Model) Maturity Level 5 assessments, a distinction shared by
178 companies worldwide. NetSol Technologies' clients include Fortune
500 manufacturers, global automakers, financial institutions,
utilities, technology providers, and government agencies. Headquartered
in Calabasas, California, NetSol Technologies has operations and
offices in Alameda, Adelaide, Bangkok, Beijing, Karachi, Lahore,
London, and Riyadh.

To learn more about NetSol, visit www.netsoltech.com.

The NetSol Technologies, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7396

NetSol Technologies, Inc. Forward-looking Statements

This press release may contain forward-looking statements relating to
the development of the Company's products and services and future
operation results, including statements regarding the Company that are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those projected. The words "believe,"
"expect," "anticipate," "intend," variations of such words, and similar
expressions, identify forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, but their absence
does not mean that the statement is not forward-looking. These
statements are not guarantees of future performance and are subject to
certain risks, uncertainties, and assumptions that are difficult to
predict. Factors that could affect the Company's actual results include
the progress and costs of the development of products and services and
the timing of the market acceptance. The subject Companies expressly
disclaim any obligation or undertaking to update or revise any
forward-looking statement contained herein to reflect any change in the
company's expectations with regard thereto or any change in events,
conditions or circumstances upon which any statement is based.


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